In this episode, Lyndsey talks with Lesley Stephenson, Publisher and Owner of Governance Magazine. They discuss the 21 year journey of this global publication.   Introduction and Overview: - Worked on publishing the first corporate governance code – Cadbury Report on the Financial Aspects of Corporate Governance (2:15) - Published Greenbury Report on director remuneration and the Hampel Report which reviewed the original Cadbury Code (2:31) - Publisher of Financial Times Board Director Programme – provides training, development and networking for board directors in their role as director (3:22)   Governance Magazine: - Governance magazine has actually been going since November 1997 – 23 years (4:32) - Covers any issue of relevance to boards and investors (5:04) - Occasionally looks at important developments outside the corporate sector but mainly corporate (5:42) - Readership (6:24) • Chairs/CEOs/CO Secs in large listed companies worldwide• Institutional investors• Advisors• Business schools• Governance professionals - Main readership is in the UK (50%) and the USA (10%). The audience is truly global, with subscribers in 40 different countries (6:38)   Corporate Governance Over 20 Years Ago: - Generally boards more resistant, not so well accepted (8:04) - Heavy emphasis on running companies for benefit of shareholders – this has broadened out to include all stakeholders (9:26) - No concept of Board Diversity at all (10:13)   Top Moment: - Publishing an article by Alexei Navalny (11:21)   Top Challenges: - Time management between the Financial Times Board Director Programme and Governance Magazine (11:49) - Small team working behind the scenes on Governance Magazine (12:04) - Good content has not been a challenge (12:30)   Top Changes in Past 21 Years: - General acceptance of Governance and business as a force for good (13:41) - Increase in investor stewardship (14:31) - Board diversity and inclusion (14:53) - Drivers of change: (16:43) • Scandals• Losing money• Internet• Social media   Trend of Corporate Governance Development in the Next 5 to 10 Years: - ESG is here to stay. Climate change needs to be dealt with (19:05) - Extension of a wider sense of stakeholder engagement (19:22) - Culture comes from the top (19:43) - Changes to digital technology, AI and the way we do things (20:02) - Boards and directors need to be adaptable and open to change (20:28)   Importance of Ongoing Corporate Governance Training: - Individual directors have the responsibility to make sure they are up to date and that their skills are appropriate (21:31) - Other professions expect specific training and CPD (Continuing Professional Development) (23:10) - Governance Magazine helps board directors by keeping them up to date across a range of topics (23:39)